September 25, 2021

The Central Bank of Chile will explore the possibility of issuing a CBDC

The Central Bank of Chile will explore the possibility of issuing a CBDC

Mario Marcel, president of the Central Bank of Chile, spoke about plans to form a team to study the possibilities of national banks' digital currencies (CBDC).

In the first quarter of 2022, the team will present a document with the strategic goals, development rules and expected results of CBDC implementation.

The team also plans to develop a medium-term strategy for digital payments in Chile. Central Bank board member Alberto Naudonom will lead the project.

According to a statement from the Central Bank of Chile, the development of CBDC faces challenges such as credit provision, financial stability and privacy.

Recall that the head of the British financial conglomerate HSBC Noel Quinn supported the CBDC. According to him, transparency and stability avoids many of the risks associated with cryptocurrencies and some stabelcoins.

Earlier, the head of BIS Benoit Kéré called on central banks to accelerate the development of CBDC.

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Jack Evans

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I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments. 

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